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How to regain public trust in audit firms? The case of the Financial Reporting Council
Eldaly, Mohamed K.A. Abdel-Kader, M.
Eldaly, Mohamed K.A.
Abdel-Kader, M.
Publication Date
2018
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This article is © Emerald Group Publishing and permission has been granted for this version to appear here: https://bradscholars.brad.ac.uk. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.
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openAccess
Accepted for publication
04/11/2016
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Abstract
This study aims to provide a better understanding of the role of the Financial Reporting Council (FRC) in restoring public trust in audit profession in the UK. It analyses the views of partners in the Big 4 audit firms on this role. This study identifies three main strategies to promote trust and enhance the choice of auditors in the UK audit market. These strategies are improving audit quality, increasing the transparency of the big audit firms and reducing the barriers to competition in the audit market. The findings suggest that partners of the Big 4 believe that the FRC's projects effectively participate in improving audit quality as well as providing wider information about the audit firms to the public. However, different actions need to be taken to enhance the choice in the market.
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Accepted manuscript
Citation
Eldaly MK and Abdel-Kader M (2018) How to regain public trust in audit firms? The case of the Financial Reporting Council. Accounting Research Journal. 31(3): 343-359.
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Article